The āKorean Investment Home Programā was first launched in 2010, offering real estate investment options. Then in 2012, South Korea launched a public business plan to complement its offers with commercial and bond investment options. This program offers a renewable 2-year residence permit. After living in the country for 5 years, applicants are eligible for Korean permanent residency and citizenship. The Korean passport is a world-class travel document that provides visa-free travel to the United States, Europe, and China. Korean non-permanent residents are not taxed on their foreign income.
Ā
What is an investor visa?
An investor visa allows foreigners who are citizens of treaty countries to build, operate, and manage their own business/franchise in South Korea.
An investor visa is principal guaranteed and an interest-free investment. The foreign investor deposits the minimum required funds into a public fund run by the Korea Development Bank entrusted by the Ministry of Justice, and returns(only) the investment principal after 5 years.
Criminals, tax delinquents, persons with 4 or more immigration violations(except for those who have paid the overdue tax) are not eligible for this type of visa.
Risk-based investing
Foreign investors need to notify the Minister of Justice right after consultation with the relevant department (Ministry of Land, Infrastructures, Transport, and/or Tourism) to invest the minimum required funds in development projects in underdeveloped areas, and make unfavorable or harmful investments.
Ā
The minimum investment amount for investorās visa
500 million won or more (300 million won or more for retired investors over the age of 55)
Ā
Benefits
Resident(F-2 visa) status that allows free economic activity is granted to foreign investors, spouses, and unmarried children, and allows for a change of status to permanent resident (F-5) for at least 5 years if the foreign investor maintains the investment. The āUtilities Investment Immigration Fundā is entrusted to the Korea Development Bank, which provides low-interest rate loans to SMEs(small and medium enterprises) and smart factories, thereby contributing to the Fourth Industrial Revolution and creating more jobs and opportunities for South Korean nationals.
Ā
Process in getting an investorās visa in South Korea
- Initial test. This supports a smooth investment process by pre-screening investors for suitability for a residence permit.
- Investment product contracts and acquisitions. The investment amount must be shown as a foreign investment.
- Confirmation of investment and change of status of residence. You will need to change your residency F-2 status after the investment is completed
- Apply for permanent resident status after 5 years.